Exam 1: Overview of Marketing

Value is

Your friend is writing a "how to" book and asks you for marketing advice.You start by exploring the four Ps.What questions will you ask? Be specific; your friend is creating a book.

Which of the following is a core aspect of marketing?

A(n)__________ is the trade of things of value between the buyer and the seller so that each is better off as a result.

Serena studies her customer profiles,market research data,complaints,and other information,attempting to better understand what her customers want.Serena operates in the __________ era of marketing.

Jami sells construction equipment.Whenever she calls on her building contractor customers,she asks if they are having any problems.In doing so,Jami is addressing which of the following core aspects of marketing?

Xavier is analyzing potential market segments.He should carefully seek potential customers who have both an interest in his products and

The marketing goal of getting the "right quantities to the right locations,at the right time" is:

Yesenia,the new university course scheduling manager,is struggling with adjustments to the fall schedule.She is trying to determine how to offer the classes students need at the times when students need them.Yesenia is struggling with the marketing function of

Suppose your college roommate sees you reading your marketing textbook and says,"Marketing is just advertising and selling." How do you respond?

If a radio station holds an online contest in which you must log in to their website and submit personal details such as name,phone number,and email in order to participate,the radio station is

Many firms with complex products have "missionary" salespeople who assist customers with problems and implementation programs.These salespeople rarely sell products but often become involved in and knowledgeable about specific customers' needs and wants.These salespeople focus on a(n)__________ orientation with their customers.

After major hurricanes like Katrina,many ethical home repair and building supply businesses continue to charge pre-hurricane prices to their customers,even though due to the huge increase in demand they could charge much more.These firms probably recognize that

The fundamental goal of marketers when creating goods,services,or combinations of both,is to:

Marketing efforts designed to get the product or service to the right customer,when that customer wants it,are called

How should marketers determine prices?

Many inventors struggle with the question,"I made it; now how do I get rid of it?" They have made the error of considering marketing as

Georgia,the outside sales rep for a major building supply company,reads a report stating that building permits are down dramatically in her sales territory.She had noticed that things were slowing down,but now she has data confirming her impression.Based on this information,one important function Georgia should provide is

After the previous sales representative in his territory infuriated an important customer,Benjamin visited the customer once a month,never asking for business but hoping to rebuild trust through listening and expressing concern.Finally,after more than two years,the customer gave Benjamin an order.Benjamin was providing the important marketing function of

One of the benefits of value-driven marketing is that attention to customer needs and wants will likely result in